With the struggle between bulls and bears continuing in the wider cryptocurrency sector, Ethereum (ETH) has been no exception as it tries to overcome the psychologically critical threshold at $1,900 while its richest non-exchange holders have been hoarding.
Indeed, the largest addresses that are not on any crypto exchanges have continued getting richer with their Ethereum holdings, while the top exchange addresses are at their record low holdings, or near genesis levels, according to the data shared by blockchain and crypto analytics platform Santiment on June 26.
Specifically, the top 10 non-exchange addresses hold 33.47 million ETH as of late June 2023, which represents the largest supply held by these crypto wallets of all time. Meanwhile, Ethereum’s top 10 exchange addresses hold 6.78 ETH, the smallest amount since September 2015, equaling only 9.2%.
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Ethereum price analysis
Meanwhile, Ethereum was at press time trading at the price of $1,874.88, recording a decline of 0.98% on the day but still holding on to the moderate weekly gains of 8.41% and a modest increase of 1.41% on its monthly chart, as per the latest data retrieved on June 27.
It is also worth noting that the Ethereum Rainbow chart has set the price of the second-largest cryptocurrency by market capitalization to stand either in the $2,593 – $3,668 zone or the $5,290 – $7,705 area by January 1, 2024, as Finbold reported on June 23, which means that it could, indeed, surpass the $1,900 mark in the next few months.
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